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Evraz PLC said on Friday that it has suspended the demerger of its coal assets under Russia-based coal mining company PJSC Raspadskaya.
The Moscow-based steel maker and miner said it has suspended the demerger while it anticipates clarification regarding regulatory restrictions, both from the UK Office of Financial Sanctions Implementation and the Russian authorities.
The UK Financial Conduct Authority suspended the listing of Evraz on Thursday. The FCA said it suspended the FTSE 100-listed company ‘in order to protect investors pending clarification of the impact of UK sanctions’.
Roman Abramovich, a 29% shareholder in Evraz, on Thursday was sanctioned by the UK for his links to Russian President Vladimir Putin.
Shares were suspended from 11am on Thursday. Shares were down 80% over the past month.
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